[ET Net News Agency, 17 June 2020] UBS Global Research lowered its target price for BYD
Company (01211) to HK$55 from HK$32 and upgraded its rating to "neutral" from "sell",
given its technology breakthroughs in electric vehicles (EVs) and EV batteries,
exemplified by Han, its upcoming high-performance sedan.
The research house said BYD provided stronger-than-expected earnings guidance for 1H,
leading UBS to raise its 2020 earnings. However, a large part of its recent earnings beat
was due to the face mask business, which will not be sustainable. UBS thinks the key focus
remains on its EV technology development.
BYD has opened up its EV component business, including batteries and semiconductors, by
exploring external customers and introducing external investors. While UBS thinks this is
the correct strategy, it believes execution will be the key. (KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
01211 BYD COMPANY
Nominal 
203.800 +2.600 (+1.292%) Research Report
17/06/2020 17:45
{I-bank focus}UBS upgrades BYD Company (01211) to HK$55
| Remark: | Real time quote last updated: 25/04/2024 18:00 |
| Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service |